Buying a home is unlike 99% of the purchases you’ll make in your lifetime. For starters, just because a home is for sale, doesn’t mean you can simply show up and buy it on the spot with cash in hand (at least not usually).

Instead, the process involves crafting a well-thought-out offer that fits your budget but also speaks to the seller. Every home is a one-of-a-kind. So, if you’re not prepared to make a strong offer, you could miss out on the property of your dreams.

Crafting the right home offer is tricky, especially when there are other interested buyers you’re competing with. That said, with the right strategy (and expert help) you can put together an offer that maximizes your chances of success while ensuring you’re still getting a good deal.

In this blog, we’re sharing our best tips on how to make the perfect home offer! Let’s jump in.

Understanding Offers

Right off the bat, it’s crucial to understand that placing an offer isn’t just about the money. Yes, price is important, however, it’s far from the only variable involved. Sellers are motivated by all kinds of factors and are often just as stressed about the offer process as you.

All that said, it’s important not to underestimate the secondary elements of your buying offer – they could be the difference between landing your dream home or being passed over in favour of another buyer.

Looking for more catch-all advice on buying a home? Read these blogs next!

• What Are My Mortgage Options in Today’s Market?
• How to Budget For Your Next Home
• Moving Up to a New Home – Should You Buy or Sell First?

Have Your Finances in a Row

The first part of putting together a great offer is to know your financial capabilities. In other words, having a solid understanding of what you can (and can’t) offer a seller.

The easiest way to understand what you can afford to spend on a home is to get pre-approved for a mortgage. When you do this, a lender takes a close look at your finances and provides a conditional offer on what they’re willing to lend you toward a home purchase.

Not only can this help you house hunt with greater confidence, but it also makes you a better buyer in the eyes of sellers. Having a mortgage pre-approval makes your offer more appealing by showing sellers that you’re financially capable of following through on your purchase, reducing risk on their end.

Be Open to a Bigger Deposit and Down Payment

Being eligible for a sizable mortgage is great, however, it’s not the only way to show sellers that you’re financially secure. Making a larger down payment or deposit signals to sellers that you’re a serious buyer – which can increase the strength of your offer.

Buying a home on a smaller budget? Click here for advice on finding affordable homes in Durham Region and beyond.

Don’t Overdo It on Conditions

As a buyer, you’re able to include various conditions in your offer to help protect your interests. However, you won’t want to overdo it.

Some conditions are too important to skip – like a home inspection condition. However, others aren’t always necessary and can make your offer less attractive. The goal is to balance protection with appeal.

Your real estate agent can help you decide which conditions you should include and which to leave out.

Appeal to the Seller’s Emotions

After spending several years making it their own, sellers will want to know that the home will be in good hands in the future. With that in mind, it doesn’t hurt to include some heartfelt personal information in your offer.

Introduce yourself and your family. Share a few things that you love about the home and what living there would mean to you. Don’t forget to acknowledge the charm and character of the home and the effort the seller put into it.

Not everyone will be comfortable including a personal letter in their offer, and that’s ok! It’s not 100% necessary, however, it can make your offer more personal and speak to the emotions of the seller.

Getting ready to buy a home? Check out these other pages from our site for helpful info and insights!

• What Makes a Buyer’s or Seller’s Market?
• How to Maximize Your First Home by Moving Outside of Toronto
• 5 Things to Know Before You Buy a Home in the Country

Be Easy to Reach

If you’re serious about landing your dream home, you’ll need to be responsive and available after making your offer. Not all sellers will sit on your offer overnight, some may respond right away.

Be ready to answer any questions and respond to counteroffers quickly. Ensure that your agent can reach you promptly if a counteroffer or other questions arise.

Buying With Puckrin & Latreille

If you’re gearing up to buy a home in the near future, you won’t want to head to the market without a professional expert by your side. That’s where we come in!
With 175 years of combined experience right here in Durham Region and the Kawartha Lakes, we know everything there is to know about local homes and properties. Whatever your dream home looks like, we can help you find it – and buy it!

Ready to buy your dream home? We’re ready to help! Call 905-985-7300 to reach our team or click here to send us an email.

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